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Current Affairs 5th July 2018: Daily GK Update

The General Awareness Section of Banking Exams covers numerous sections in it like Banking Awareness, Static GK, and Current Affairs. But the most important thing that you might have noticed is that both the Banking Awareness and Static Awareness questions asked in the General Awareness Section are based on Current Affairs only. The questions on Static and Banking Awareness are related to the countries, events or anything that has been in news for a while. Here is the Daily GK Update to get you acquainted with the top events that made the headlines today!!

National News

1. Karnataka Budget Announced: Important Highlights

i. Karnataka Chief Minister HD Kumaraswamy presented his government's first budget. He announced a farm loan waiver of Rs34,000 crore.ii. The Loans of up to Rs2 lakh for each farmer will be waived. Farmers who repaid the loan within time will be credited the repaid loan amount or Rs25000 whichever is less.Click Here For Complete highlights from the Budget

i. The Cabinet Committee on Economic Affairs (CCEA) has approved proposal for expanding the scope of Higher Education Financing Agency (HEFA) by enhancing its capital base to Rs. 10,000 crore and tasking it to mobilise Rs. 1,00,000 crore for Revitalizing Infrastructure and Systems in Education or RISE by 2022.ii. The modalities for raising money from the market through Government guaranteed bonds and commercial borrowings would be decided in consultation with the Department of Economic Affairs.

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-

HEFA was set up on 31st May 2017 by centre as a Non-Banking Financing Company for mobilising resources for building infrastructure in higher educational institutions under Central Govt.

i. Gujarat Chief Minister Vijay Rupani launched 'Poshan Abhiyan'--a statewide mission to eradicate malnutrition among children by providing them nutritious food through Anganwadi centres. The CM also launched 'PURNA' project to eliminate malnutrition among girls in the age group of 14 to 18.

ii. 'PURNA' stands for Prevention of Under Nutrition and Reduction of Nutritional Anaemia among Adolescent Girls. The government has allocated Rs 270 crore to control malnutrition among those girls who he said would become mothers in future.

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-

Om Prakash Kohli is the present Governor of Gujarat.

4. Lieutenant Governor Does Not Have Independent Powers: Rules SC

i. The Supreme Court held that Lieutenant Governordoes not have independent decision-making powers, and is bound to act on the aid and advice of the Council of Ministers.ii. The apex court was ruling on a batch of appeals filed by the Delhi government challenging the Delhi High Court’s order holding the LG as the administrative head of the national capital.iii. The judgement pronounced in the court by Chief Justice Dipak Misra, who was heading a five-judge Constitution bench, also held that the LG cannot act as an "obstructionist".

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-

Delhi CM- Arvind Kejriwal, Lieutenant Governor- Anil Baijal.

5. Election Commission of India Launches 'cVigil' App

i. Chief Election Commissioner of India Mr Om Prakash Rawat, along with the Election Commissioners Sunil Arora and Ashok Lavasa, launched an Android-based mobile application named ‘cVigil’for citizens to report any violation of the model code of conduct during elections. ii. cVIGIL will allow anyone in the election-bound state to report violations of Model Code of Conduct (MCC) that comes into effect from the date of announcement of elections and goes on till a day after the polls.

6. Bhutan PM Dasho Tshering Tobgay In India On 3-Day Visit

i. Prime Minister of Bhutan Dasho Tshering Tobgay arrived in New Delhi on the three-day visit to India. During the visit, Prime Minister of Bhutan will call on President Ram Nath Kovind and hold talks with Prime Minister Narendra Modi.ii. India and Bhutan enjoy unique ties of friendship and cooperation, which are characterized by utmost trust and mutual understanding. This year both countries are commemorating the Golden Jubilee of the establishment of formal diplomatic relations.

i. The Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2018.ii. In a significant move, the Insolvency and Bankruptcy Board of India (IBBI) has mandated that a resolution professional should determine whether a corporate debtor had indulged in fraudulent transactions within a specified time period during the resolution process. With the amended norms, there is more clarity on procedural requirements for various classes of creditors, including home buyers.

i. The Madhya Pradesh State Government launched an outstanding power bill waiver scheme and subsidised power scheme called ‘Sambal’ for labourers and poor families. Under Sambal Yojana, the Below Poverty Line (BPL) families would be provided electricity at a cost of Rs 200 per month.ii. The main objective of the scheme is to make sure that all the households have power facility in the state. In case the bill is lower than Rs 200, the beneficiaries will have to pay the actual bill amount and if the bill amount is crossing Rs 200 then, the difference amount would be subsidised by the state government.

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-

Madhya Pradesh CM- Shivraj Singh Chouhan, Governor- Anandiben Patel.

International News

10 World's 1st Digital Art Museum Opens in Tokyo

i. The world’s first digital art museum opened its doors to the public in Tokyo, Japan allowing patrons to step all the way into the artworks.ii. Attendees are able to move freely through the 9,000-square meter interactive gallery. The exhibition itself is linked in real-time to the real-world seasons, which means that no two trips to the museum will be the same.

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-

Japan Capital- Tokyo, Currency- Japanese yen.

Business News

11. IFC Invests $100 million In M&M Arm

i. World Bank Group member IFC (International Finance Corporation) has invested $100 million in Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance). This would enable the Mahindra Group company to augment its growth by extending loans to individuals along with financing small and medium enterprises.ii. Mechanised farming can cut costs by 25% and raise productivity by 20%, helping meet the Centre’s target of doubling farmers’ incomes by 2022.

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-

President of the World Bank- Jim Yong Kim.

Headquarters of World Bank- Washington, DC.

Appointments

12. Payments Council of India Appoints Vishwas Patel As New Chairman

i. Payments Council of India (PCI), an apex body representing the companies in the payments and settlement system, has announced the appointment of Vishwas Patel, CEO of Infibeam Avenues, as its new chairman.ii. It has also announced the appointment of Loney Antony, Managing Director, Hitachi Payment Services, as its new co-chairman.He takes over from Naveen Surya, who has been elevated to the post of Chairman Emeritus.

13. Uttam Dhillon Appointed Head Of Drug Enforcement Agency In US

i. Uttam Dhillon, an Indian-American top White House lawyer, has been appointed as the new head of the crucial Drug Enforcement Agency that combats the smuggling and use of narcotics in the US. Dhillon replaces Robert Patterson, who has retired after 30 years of service.

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-

Donald Trump is the 45th President of the USA.

Washington DC is the capital city of USA.

14. Major General Jose Eladio Alcain To Head UN Military Observer Group in India, Pakistan

i. UN Secretary-General Antonio Guterres has appointed a veteran Uruguayan Army officialMajor General José Eladio Alcain as head of the United Nations mission tasked with monitoring the ceasefire line between India and Pakistan.ii. Major General will be Head of Mission and Chief Military Observer for the United Nations Military Observer Group in India and Pakistan (UNMOGIP). He will succeed Major General Per Gustaf Lodin of Sweden, who will complete his two-year assignment.

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-

UNMOGIP was established in January 1949.

Sports News

15. ICC Introduces Stricter Sanctions For Ball-Tampering

i. International Cricket Council (ICC) has introduced stricter sanctions for ball-tampering. The new regulations were introduced at its annual conference held in Dublin, Ireland.Ball-tampering has been upgraded from a level 2 to a level 3 offence.ii. Tampering with the ball will be now penalized with a ban of up to 6 Tests or 12 ODIs. ICC also added obscenity and personal abuse to the list of offences to bring better behaviour on the field.

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-

The ICC is the international governing body of cricket.

Headquarters of ICC is in Dubai, UAE.

Dave Richardson is CEO of the ICC.

16. Sports Authority Of India Renamed As Sports India

i. Union Sports Minister Rajyavardhan Singh Rathore announced that more than 34 years after coming into existence, the Sports Authority of India (SAI) has been renamed as Sports India after the sports body's governing body meeting.ii. The sports body organised its 50th GB meeting, where it was also decided that coaches will be given a say in decision making and the food expenses of athletes will also be increased.